Massmart says making progress on Nigeria expansion plans
JOHANNESBURG |
JOHANNESBURG May 31 (Reuters) - Massmart (MSMJ.J) is making "good progress" at identifying sites for potential expansion in Nigeria, the chief executive of the South African retailer said on Tuesday.
Grant Pattison also said on a conference call the company was looking at potentially expanding into the Democratic Republic of Congo, Angola and Senegal.
South Africa approved Wal-Mart's (WMT.N) $2.4 billion bid for control of Massmart, with minimal conditions on Tuesday, giving the world's top retailer a big boost in its plan to expand in fast-growing Africa. (Reporting by Tiisetso Motsoeneng and David Dolan)
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